Filinvest Development Corp., the diversified investment holding company of the Gotianun Group, said Wednesday it has secured regulatory approval for the issuance of peso-denominated, fixed-rate bonds that would initially raise as much as P10 billion to support the company’s various spending and investment requirements.
Filinvest Development, whose business spans property development, utilities and financial services, said the Securities and Exchange Commission has approved the shelf registration of P32 billion worth of peso-denominated, fixed-rate bonds that paved the way for the sale of the first tranche that covers a base offer of P7 billion and P3 billion to cover possible over-subscription.
The first tranche will have a maturity of 2.5 years, with an annual interest rate set at 6.3206 percent.
Filinvest Development has mandated BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Banking Corp., First Metro Investment Corp., Land Bank of the Philippines, RCBC Capital Corp. and SB Capital Investment Corp. as joint lead underwriters and book runners of the bond offer. RCBC Trust Corp. shall serve as trustee.
